Some visions are based around the concept of decentralized autonomous organizations (DAOs).[26] Decentralized finance (DeFi) is another key concept; in it, users exchange currency without bank or government involvement.[5] Self-sovereign identity allows users to identify themselves without relying on an authentication system such as OAuth, in which a trusted party has to be reached in order to assess identity.[27] Technology scholars have argued that Web3 would likely run in tandem with Web 2.0 sites, with Web 2.0 sites likely adopting Web3 technologies in order to keep their services relevant.[10]
https://en.m.wikipedia.org/wiki/Web3
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